Thrivent Financial for Lutherans Grows Holdings in The E.W. Scripps Company (NASDAQ:SSP)

Thrivent Financial for Lutherans grew its position in The E.W. Scripps Company (NASDAQ:SSP) by 18.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 494,507 shares of the company’s stock after acquiring an additional 75,380 shares during the period. Thrivent Financial for Lutherans owned about 0.57% of E.W. Scripps worth $1,110,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of SSP. Millennium Management LLC raised its holdings in E.W. Scripps by 270.6% in the 2nd quarter. Millennium Management LLC now owns 3,001,601 shares of the company’s stock worth $9,425,000 after purchasing an additional 2,191,666 shares during the period. AQR Capital Management LLC increased its position in shares of E.W. Scripps by 1,154.7% in the second quarter. AQR Capital Management LLC now owns 2,404,607 shares of the company’s stock valued at $7,550,000 after buying an additional 2,212,959 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of E.W. Scripps by 1,619.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 2,203,186 shares of the company’s stock worth $6,918,000 after buying an additional 2,075,027 shares during the period. Squarepoint Ops LLC lifted its position in shares of E.W. Scripps by 767.5% during the 2nd quarter. Squarepoint Ops LLC now owns 638,663 shares of the company’s stock valued at $2,005,000 after buying an additional 565,045 shares in the last quarter. Finally, GSA Capital Partners LLP grew its stake in E.W. Scripps by 1,335.9% in the 3rd quarter. GSA Capital Partners LLP now owns 612,366 shares of the company’s stock valued at $1,375,000 after acquiring an additional 569,720 shares during the period. 67.81% of the stock is owned by hedge funds and other institutional investors.

E.W. Scripps Stock Performance

Shares of NASDAQ:SSP opened at $2.00 on Monday. The company has a debt-to-equity ratio of 3.41, a current ratio of 1.34 and a quick ratio of 1.34. The E.W. Scripps Company has a 1 year low of $1.68 and a 1 year high of $9.35. The firm has a market capitalization of $172.73 million, a PE ratio of -0.65 and a beta of 1.66. The business’s 50 day moving average price is $2.35 and its 200-day moving average price is $2.51.

E.W. Scripps (NASDAQ:SSP) last announced its earnings results on Monday, November 4th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.19). The business had revenue of $646.30 million for the quarter, compared to analyst estimates of $634.01 million. E.W. Scripps had a positive return on equity of 9.40% and a negative net margin of 8.55%. During the same period last year, the firm earned ($0.15) EPS. As a group, equities research analysts expect that The E.W. Scripps Company will post 1.07 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SSP. Benchmark decreased their price objective on shares of E.W. Scripps from $11.00 to $7.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. StockNews.com upgraded shares of E.W. Scripps from a “sell” rating to a “hold” rating in a research report on Monday, November 11th.

E.W. Scripps Company Profile

The E.W. Scripps Company, together with its subsidiaries, operates as a media enterprise through a portfolio of local television stations, national news, and entertainment networks in the United States. It operates through Local Media, Scripps Networks, and Other segments. The Local Media segment operates broadcast television stations, which produce news, information, sports, and entertainment content, as well as its related digital operations; runs network, syndicated, and original programming, and local sporting events; and provides core and political advertising services.